Key management

[Michael Shadow]

Ok here it goes. How do you manage all of those keys? We're starting to get a plethora of keys and I was wondering what others are doing to manage the key system. I also like to change the locks when tenants turn over so figuring out a system to keep track of all the keys has been eluding me.

I want to keep a ring for each property, with one key for each locked door on it (the original keys). But I also one a spare one of these rings, which both are used for my personal use. and I also need a way to keep track of the common keys and the extra keys for the tenants.

What's your system?

Thanks,

-Michael

[Mark Yuschak]

I don't have THAT many properties that it's a huge hassle. However, it is annoying whenever I have to change locks. I never throw away old locks. Whenver a tenant moves out, I swap on a lockset which I have in inventory from another property. It minimizes the expense and doesn't negate the new tenant's security by much.

After the locks have been changed, I put a lockbox on the house so that it's easy to be shown. That way my wife or a designated agent can show it. Once it's rented the lockbox comes off. For my problematic properties, I keep a set of keys with me in the truck.